Business & Economy

Oil Rig Leaving from Cuba

The Scarabeo-9 rig will soon be withdrawn from Cuba after three failed attempts to find oil in exploration wells, officials said on Tuesday at the offices of the Ministry of Basic Industry.

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Brazil-Cuba: Full steam ahead

With little hoopla, Brazil has become Cuba’s second trade partner in Latin America. The trend is rising, according to basic data: In 2011, the bilateral trade exchange rose by 45 percent, compared with 2010, when it totaled US$501.4 million. This year, it is expected to close at $1 billion.

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Havana Trade Fair in Pictures

The 30th Havana International Fair (FIHAV 2012) came to a close over the weekend with the organizers optimistic about the results. Business representatives from 57 countries took part and contracts were signed over a week for more than US $300 million. HT was on hand to give our readers a glimpse of the event. (25 photos)

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UK Firm to Invest $50 Million on Bio-generator in Cuba

The AZCUBA sugar industry business group and the British firm Havana Energy Ltd, have created a company to build the first 30 megawatt electric generating plant in Cuba running off of biomass. This information emerged last week during the Havana International Trade Fair.

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Cuba Opens Sugar Industry to Foreign Investment

After having reserved it to the national public sector since 1959, the Cuban government is opening its struggling sugar industry to foreign investment, reported Reuters. Today a contract will be signed with the Brazilian giant Odebrecht to manage a sugar mill on the island.

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